In the session on IT in Retail service providers talked about the role of IT in growing the retail market along with tool such as barcoding and RFID technology
It was a hectic day of debates, discussions and deliberations at the day 2 of the biggest retail event in India - India Retail Forum (IRF 2010) being held at Renaissance, Mumbai. The Regional Retail Conclave attended by Dinesh Talera, MD, Mysore Saree Udyog, Manohar Chatlani, MD, Favourite Shop, Sushanto Dey, MD, Sreeleathers, Darpan Kapoor, Director, Kapsons, Samir Sahni, Joint MD, Ritu Wears, Shambhav Chauhan, Director, Supreemo Fashion, Bhagirath Jalan and Director, Jalans threw up a few pertinent points.
“Retail is no more about selling, it’s about managing people. Building a showroom is not a big deal in today’s world. When a regional retailer touches the double digit mark, he should start expanding pan-country. After managing at least 10 stores he must have learnt the art of retailing, so he should start looking for bigger markets, outside his zone,” believes Darpan Kapoor, Director, Kapsons.
Justifying his reasons for franchising Sushanto Dey, MD, Sreeleathers said, “A regional retailer understands the taste of the consumer of that region very well. That is why we prefer franchising in new markets. If I have to go to north or south I have to understand the market mechanism of that area very well.”
Driving home the point of regional retail Manohar Chatlani, MD, favourite Shop, Bangalore, emphasized, “Even within South India, there are a lot of differences. For example green is very popular in Hyderabad, but it doesn’t do well in Bangalore. Even within Bangalore, if a product is doing well in Forum Mall, it may not do well in Mantri Square mall. Retailers need to keep in mind their TG, to grow big.”
Bijou Kurien, President and Chief Executive, Reliance Retail - Lifestyle felt that regional retailers laid a lot of stress on the in flow of cash, whereas national retailers emphasized more on store management. The reason for this he explained was the fact that the owner of a regional retail store can visit his store everyday, but a national retailer can’t do so. “A regional retailer should pay more attention to customer experience and store management,” he reiterated.
Another interesting dimension was added by Dinesh Talera, MD, Mysore Saree Udyog when he commented that discounts are no parameter for attracting footfalls. Many regional retailers do so but it’s not a correct way to grow. Customers should be given value for money and that is the only way to build a very good rapport with the customers he observed.
In the session on IT in Retail service providers talked about the role of IT in growing the retail market along with tool such as barcoding and RFID technology. Data synchronization system which connects the front-end with the backend formed the crux of the debate. “Usually retailers depend on forecast for buying or replenishing their stocks.
These forecasts are not always correct. IT can aid the retailers in checking consumer buying patterns and align his merchandise accordingly,” said Kumar Vembu, Founder and CEO, Go Frugal Technologies. He added that the use of technology can even help reduce attrition “With the help of technology you are doing everything hypothetically. You don’t have to listen to your boss,” he exclaimed.
Presenting an interesting take on technology Rajkiran Kangala Head BD, TCI Supply Chain Solutions said, “Technology can fight counterfeit. There are technologies which can help in figuring out the authentication of a product. People in India are scared of technology as they feel it will snatch away a great number of jobs. But technology is not here to take away your job. It is here to aid you. Queue busting is a problem in retail and one needs to understand that it can’t be tackled without proper RFID system and bar coding system.”
Tags:Bhagirath Jalan, Darpan Kapoor, Dinesh Talera, Favourite Shop, Kapsons, Manohar Chatlani, Mysore Saree Udyog, Ritu Wears, Sambhav Chauhan, Samir Sahni, Sreeleathers, Supreemo Fashion, Sushanto Dey
Source:ndia Infoline News Service / 16:18 , Sep 28, 2010
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